WTI Crude--
Brent Crude--
Natural Gas--
ND Rig Count--
WTI Crude--
Brent Crude--
Natural Gas--
ND Rig Count--
ExxonMobil Advances Offshore Projects as Bakken Portfolio Remains Core - Bakken Wire
Operator News

ExxonMobil Advances Offshore Projects as Bakken Portfolio Remains Core

Global operator affirms commerciality of Cyprus discoveries and transitions Australian gas assets, highlighting its diversified strategy.

Bakken Wire Staff·🔆Midday Wire·

ExxonMobil, a major operator in North Dakota's Bakken formation, has affirmed the commerciality of significant natural gas discoveries offshore Cyprus, according to Rigzone. The company, alongside partner QatarEnergy, signed a 'commercial discovery declaration' with the Cypriot government for two finds in Block 10 of the Mediterranean Sea.

Separately, ExxonMobil has transitioned operatorship of key Australian gas assets to Woodside Energy, Rigzone reported. The partners continue to each own a 50 percent stake in the Gippsland Basin Joint Venture and a 32.5 percent interest in the Kipper Unit Joint Venture. The Gippsland venture supplies about 40 percent of the gas needs on Australia's east coast.

For Bakken stakeholders, these international moves underscore ExxonMobil's status as a global integrated energy giant with a diversified portfolio. The company maintains a substantial position in the Williston Basin through its subsidiary, XTO Energy. Strategic investments in large-scale, long-cycle international projects like those in Cyprus and Australia are funded by cash flows from its global operations, which include its prolific Bakken assets.

The developments highlight a continued corporate focus on securing and developing natural gas resources worldwide. While these specific projects are geographically distant, they reflect the broader industry trend where major operators balance short-cycle shale production, like that in the Bakken, with long-term international investments. For North Dakota, ExxonMobil's sustained global activity suggests its Bakken operations remain a core, cash-generating component of its broader strategy, providing stability for local employment and royalty owners.

Source

Rigzone

exxonmobilxto energyinternational operationsnatural gasoffshore

Share this article

Related Articles

Operator News

ExxonMobil Acquires Operatorship of Papua LNG Project from TotalEnergies

ExxonMobil Corp. has agreed to acquire the operatorship of the Papua LNG project from TotalEnergies, according to a report from Rigzone. The transfer, announced on September 7, 2026, also involves a farm-down by French majority owner TotalEnergies. TotalEnergies stated the transaction is intended to help advance the project toward a final investment decision, Rigzone reported. The Papua LNG project is a major liquefied natural gas development located in Papua New Guinea. For Bakken formation operators and stakeholders in North Dakota, this corporate maneuvering highlights the ongoing global competition for capital within integrated oil majors. As companies like ExxonMobil commit resources and operational expertise to large-scale, long-term international projects like Papua LNG, capital allocation for domestic shale basins can be affected. Major operators with significant Bakken assets, including ExxonMobil subsidiary XTO Energy, continually balance their investment portfolios between short-cycle shale production and large-scale international developments. Strategic moves into multi-billion dollar LNG...

☀️Morning Wire·Sep 7
Operator News

Chevron JV Plans $7 Billion Venezuela Investment Over Five Years

Chevron Corporation announced that its joint ventures in Venezuela plan to invest more than $7 billion over the next five years, according to a report from Rigzone. The news, published September 3, 2026, signals a significant international capital commitment by one of the Bakken formation's largest operators. For North Dakota's oil industry, the announcement highlights the global competition for capital within integrated majors. Chevron is a major player in the Williston Basin, holding substantial acreage and operating hundreds of wells. Large-scale investments in other regions can influence the pace of development and spending available for domestic shale plays. The Bakken has seen a trend of disciplined capital expenditure from public operators in recent years, with a focus on shareholder returns and free cash flow. A multi-billion dollar, multi-year commitment to Venezuela represents a substantial allocation of Chevron's future investment budget. While the company has not made any specific announcement regarding...

☀️Morning Wire·Sep 4
Chevron JV Plans $7B Venezuela Investment Over Five Years - Bakken Wire
Operator News

Chevron JV Plans $7B Venezuela Investment Over Five Years

Chevron Corporation, a significant operator in North Dakota's Bakken formation, announced that its joint ventures in Venezuela plan to invest more than $7 billion over the next five years, according to a report from Rigzone. The announcement, published on September 3, 2026, outlines a substantial international capital commitment by the integrated energy giant. While the company has not provided specific details on how this investment might affect its other global assets, such announcements are closely watched by the Bakken industry for signals of shifting corporate priorities. For Bakken operators and service companies, major investment decisions by large players like Chevron can influence the broader competitive and financial landscape. Capital budgets are finite, and a multi-billion dollar, multi-year commitment to one region can lead to comparative analysis of returns on investment across a company's portfolio. The Bakken, while a mature and prolific basin, competes for capital against international opportunities and other...

🔆Midday Wire·Sep 3